The high speed rail link between Beijing and Shanghai is set to raise 30 to 50 billion yuan through an initial public offering this year.

Set up in 2007 and owned by the Ministry of Railways, the China Railway Investment Corp has submitted IPO plans to the Ministry of Finance and other relevant government departments.

Analysts say the share issue will ease fund raising pressure for the high speed rail project, while the impact of this IPO on the market should be neutral. Construction began in 2008 on the 1,300 kilometer high speed railway, with investment hitting more than 120 billion yuan so far.